P2-24 Integrative—Complete ratio analysis Given the following financial statements

(below and on page 96), historical ratios, and industry averages, calculate Sterling Company's financial ratios for the most recent yean (Assume a 365-day year.) Analyze its overall financial situation from both a cross-sectional and a time-series viewpoint. Break your analysis into evaluations of the firm's liquidity, activity, debt, profitability, and market.